B2C Companies Are Adapting, Creating New Products Using Internet of Things

While many manufacturers struggle to automate processes and generate data using the Internet of Things, companies that cater to consumers have made significant progress in using IoT in products that make humans’ lives better and more informative. Auto insurers like Progressive, Allstate, and State Farm are using the Internet of Things (IoT) to monitor drivers’ habits, including changes in speed, how often they drive, and the time of day they drive. For insurance firms, the expectation is that this will lead to lower costs through a better ability to assess clients’ risk levels. For consumers, this means better premium rates — assuming they drive well. ( Business Insider ) The IoT has penetrated the consumer products and services industry for everything from FitBits and pedometers to thermostats, alarm systems, even home lighting that can be controlled with a computer or phone. ( Forbes ) This growing trend will benefit manufacturers and other companies three ways, says Forbes : It will help them to make smarter products, allow them to make smarter decisions and improve business operations, and for some companies, it will provide a much-needed change in business model, that will allow them to more effectively compete and survive. Intel is another company maximizing the opportunities that IoT brings. For example, the sensor-filled Nabi Seat Clip, which has an Intel chip, attaches to a child’s car seat and connects to the parents’ smartphone via Bluetooth. If parents walk too far out of range while the clip is still locked, an alarm notification is sent to the smartphone, hopefully ensuring baby is never accidentally left in the car, according to NextGov . Intel has also developed RealSense cameras that can detect depth and other 3-D information to help customize further the user experience. The Memomi Mirror fashion app is both […]